Ausbiz: In the markets, last year’s losers are this year’s winners
The Australian market was dragged higher in January by roaring global markets. It has really been a case of last year’s losers being this year’s winners. By way of example US-listed Facebook’s peak-to-trough drawdown described a fall of 76 per cent. Facebook shares rose 55 per cent in January. However, I am not too excited, Facebook shares are still down 52 per cent from their high. Watch: In the markets, last year’s losers are this year’s winners
Roger Montgomery is the Founder and Chairman of Montgomery Investment Management. Roger has over three decades of experience in funds management and related activities, including equities analysis, equity and derivatives strategy, trading and stockbroking. Prior to establishing Montgomery, Roger held positions at Ord Minnett Jardine Fleming, BT (Australia) Limited and Merrill Lynch.
This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.
